Varna Community Assoc

Nonprofit profile at a glance

EIN: 166052986
IRS 990-EZ coverage: 2013–2024
Forms available: Form 990-EZ 2024
Location: Ithaca, NY, USA
Phone: 6072722658
Rating: 42
Verdict: MIXED
Rating confidence: Moderate
Sector: Neighborhood, Block Associations

Reported finances

Revenue: $48,024
Expenses: $58,979
Assets: $109,387
Liabilities: $360

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

People named in this filing

Janet Morgan (Chair)
Meghan McQuaide-Reiff (Vice-Chair)
Simon St Laurent (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Charitable and educational purposes including community service activities, intergenerational and childcare activities, and providing a central community meeting hall.

What it reported doing in 2024

Community Meeting Hall (20 days, 350 people served) - Meeting space for government, committees, and other non-profit organizations. Tompkins County and Ithaca City Schools polling site.

Operating model

Revenue model: Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model: Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

Financial Efficiency: 5
Transparency & Controls: 82
Sustainability: 39
Growth: 100

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 5.8%; rating input score 6
Program expense ratio: 3%; rating input score 3

Transparency & Controls

Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
Major donor itemization: Limited

Sustainability

Operating margin: -22.8%; rating input score 22; 22nd percentile among comparable filings
Total-asset coverage ratio: 1.85; rating input score 63; 63rd percentile among comparable filings
Liabilities to assets ratio: 0; rating input score 32; 32nd percentile among comparable filings
Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

Program expense growth: 0.5% per year; rating input score 100; 50th percentile among comparable filings
Revenue growth: 5.2% per year; rating input score 100; 71st percentile among comparable filings
Asset growth: 3.4% per year; rating input score 100; 52nd percentile among comparable filings

Details

Where the money goes: 5.8% of revenue deployed · 3% of spending went to programs
Governance: Filed governance answers
Accomplishments: 3 filed program accomplishments · $2K in reported program spending
Leadership: top reported pay $0 · 4 people listed
Consistency: 9 of 9 current checks pass
Schedules: 2 filed schedules
Filing history: 7 filing years from 2013 to 2024
Contacts: How to reach this organization
Money network: Resolved incoming and outgoing counterparties from filed money flows.
Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

High — Financial Efficiency: Mission deployment rate scored 6/100.
High — Financial Efficiency: Program expense ratio scored 3/100.
High — Sustainability: Operating margin scored 22/100.
Moderate — Sustainability: Liabilities to assets ratio scored 32/100.
Review — Sustainability: Officer compensation ratio scored 56/100.